Tuesday, 11 July 2017

EPIC RESEARCH MCX COPPER UPDATE OF 11 JULY 2017

Copper trading range for the day is 374.4-383.2.Copper dipped as rising inventories indicated healthy supplies, which outweighed worries about possible strikes at mines in Chile. Stocks in LME warehouses rose by 4,900 tonnes to 319,975 and have gained 32 percent since June 28, showing supplies are adequate. Hedge funds and money managers in the week to July 3 raised their net long position in COMEX copper futures and options, U.S. CFTC data showed.